MSU Federal Credit Union

Student Accounts Valuing Education

Lansing SAVE is a children's savings program brought to you by the City of Lansing, the Lansing School District, and MSUFCU. These accounts help Lansing School District students start saving money for their future college or career training expenses.

Any kindergarten through seventh grade student within the Lansing School District is automatically enrolled in the Lansing SAVE program.

Lansing SAVE program also provides financial education specialists to local area schools and provide students with valuable tools on saving for their financial future. The program offers students the foundation needed to learn about financial management and plan for their futures so they can achieve their goals and dreams.

Lansing SAVE Benefits

Lansing SAVE accounts provide the tools and resources for your child's bright financial future and make learning fun and interactive:

• Educational Contests
• Special events
• FREE gaming apps

Plus! Family members of Lansing SAVE members are eligible to open MSUFCU accounts.

Have questions? Contact us!
Email: [email protected]
Phone: 517-333-2424 ext. 2750

How do contributions work?

Contribution to Lansing SAVE accounts are made in two ways:

• Public contributions: The City of Lansing will make yearly contributions to all Lansing SAVE accounts.
• Private Contributions: Parents, grandparents, friends and the student may make contributions to the student's account at any MSUFCU branch.

Contributions will be made to an MSUFCU 1-Year Add-On Certificate and will renew each year until the student withdraws the funds.

How do I access my students account?

Access your student's Lansing SAVE balance via MSUFCU's ComputerLine (online banking), Mobile app, or MoneyLine (automated response phone banking system).

In your Lansing SAVE account envelope you will receive a ComputerLine password and letter with step-by-step instructions on how to log in for the first time on our website. If you have lost or did not receive this letter, please contact us.

Need to make changes to an existing Lansing SAVE account?

Complete and return the forms below to any MSUFCU branch or mail the forms to:

MSU Federal Credit Union
PO Box 1028
East Lansing, MI 48826

• Deposit Slip
• ACH Private Contribution Form
• Private Contribution Form
• Authorized Signer Designation Form
• Beneficiary Designation Form
• Certificate Change in Terms Authorization Form
• Contact Information Change Form
• Opt Out Form
• Withdrawal/Close Account Form

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Can my child use the funds from the Lansing SAVE account for any kind of cost? Does it have to be tuition?

Your Lansing SAVE account is a CSA (Children's Savings Account), and strict rules apply to these kinds of programs. All savings are dedicated to postsecondary education after high school. This includes tuition for college, community college, or other kinds of training programs. It can also be used for books and other education-related expenses.

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What will happen to the Lansing SAVE account if my child does not go to college?

Lansing SAVE account funds can be used toward other kinds of postsecondary education, like community college, city colleges or technical and vocational training. If your child decides not to pursue any postsecondary education, the funds you've saved (privately invested funds) will be returned to your child when he or she turns 26. However, funds contributed to your child's account by the City of Lansing or our partners (public invested funds), and interest accrued on those funds, feature restrictions. These funds must go toward postsecondary education related expenses, and will be reinvested in the Lansing SAVE program if not used by your child for this purpose.

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If my child transfers schools, or leaves the Lansing School District, do they get to keep their Lansing SAVE account?

If your child has a Lansing SAVE account and transfers schools within the Lansing School District nothing will change with their account. If they leave the school district their account will remain open, but no new funds will be deposited by the Lansing School District.

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Am I (as the parent/guardian) liable for tax implications on this account?

No, parents/guardians are not liable for any tax implications on their child's Lansing SAVE account. Lansing SAVE accounts are set up with only the student's name and no social security number. All tax implications are handled through MSU Federal Credit Union and the City of Lansing.

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